ACEN completes Australia development platform deal

This will in effect transform the UPC\AC Renewables Australia JV to ACEN Australia.

ACEN, through its ACEN Renewables International (ACRI), has completed the acquisition of the Australia development platform.

ACRI and UPC Renewables Asia Pacific Holdings have signed an Instrument of Transfer for the transfer to ACRI of UPCAPH’s remaining 4,766 ordinary shares in UPC-AC Energy Australia (HK) Limited.

This completed the second and final tranche of ACRI’s acquisition of ACEN Australia.

In effect, the UPC\AC Renewables Australia joint venture will be transformed into ACEN Australia.

The acquisition leads to the full ownership by ACEN of the 521-megawatt New England solar farm and the 520MW Stubbo solar farm in Australia, amongst other projects in the pipeline of ACEN Australia.

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